Hong Kong is Getting Ready for Blood
Hong Kong wants to be one of the largest crypto hubs worldwide and attract crypto companies but this needs a strong legal framework around them. Through the licensing framework, now a crypto exchange needs it to operate in Hong Kong.
The audits have started intensively and the first “victim” came out, the crypto exchange JPEX, which didn’t have this specific license. The Hong Kong authorities received 83 complaints regarding exchange’s operation and moved to an auditing process.
The probe resulted into arresting a person affiliated with the crypto exchange. JPEX issued an announcement, saying that there is no problem with the exchange itself but with the local market maker, which also has problem with him.
The investors’ protection has been a priority for now at global level and governments are involved in the crypto regulation process….
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